SUDBURY,
ON, July 11, 2023 /CNW/ - SPC Nickel
Corp. (TSXV: SPC) ("SPC Nickel"), is pleased to announce
the final assay results from its Phase 1 drill program at the West
Graham Project, located in the world-class Nickel-Copper mining
district of Sudbury, Ontario. SPC
Nickel is reporting the last 11 drill holes out of 27 drill holes
completed in the Phase 1 program. With the completion of Phase 1 of
the program we have now established 50 metre spaced drilling over a
large area (300 metres by 300 metres) of the footprint of the
historical resource that will support the planned mineral resource
estimate update. The Phase 2 program is well underway, with over
3,600 metres already completed, and with the recently closed
financing, SPC Nickel is on track to meet its goal of having an
updated combined resource by the end of 2023.
Highlights
- A total of 9,050 metres in 38 holes have so far been completed
on the West Graham Project since drilling commenced in early March.
The Phase 1 program consisted of 5,338 metres in 27 holes and was
completed in late May while a total of 3,696 metres in 11 holes
have been completed from the ongoing Phase 2 program (Figure
1).
- The best intersections from the Phase 1 program include
WG-23-26: 2.48% Ni, 0.64% Cu over 7.80 metres (see news
release of April 11, 2023), and
WG-23-42: 1.71% Ni, 0.46% Cu over 20.00 metres (see
news release of May 24, 2023).
- Hole WG-23-043, intersected a thick zone of nickel and
copper mineralization grading 0.46% Ni, 0.36% Cu over
68.00 metres from 212.00 to 280.00 metres, including a
higher-grade section that returned 0.94% Ni, 0.68% Cu over 9.00
metres from 266.00 to 275.00 metres.
- Footwall-style massive sulphide veins grading 6.09% Ni and
0.07% Cu over 0.50 metres were encountered in the footwall
granites of hole WG-23-043.
- A 6.5 kilometre ground grid has been completed on the property
in preparation of a ground electromagnetic (EM) geophysical survey,
scheduled for July. The purpose of the ground EM is to help the
team prioritize drill targets on the western portion of the
property where only sparse wide spaced drilling has been
completed.
- Assay results from all 27 holes completed as part of the Phase
1 program have been received and significant results are presented
in Tables 1 and 2. The remaining samples are being processed and
will be reported when available.
Grant Mourre, CEO and President
of SPC Nickel commented, "The ongoing results from our drill
program continues to support our positive outlook for the West
Graham Project. The Phase 1 program has achieved its goal of
confirming and expanding the zone of nickel and copper
mineralization a further 200 metres to the west of the previously
defined extent of the 2009 resource model. The work has also
outlined areas of higher-than-expected grade within the
contact-style deposit as well as discovering new high-grade
footwall-style mineralization outside the historical resource. We
are also excited to have commenced the Phase 2 program which will
focus on further expanding the mineralization to the west.
Activities at West Graham are progressing as planned and we remain
focused on working towards delivering a combined mineral resource
estimate by the end of 2023."
Assay Results
Table 1: Reported assay results from the Phase 1
drill program on the West Graham Project. Assays from all holes not
listed in Table 1 are pending.
|
HOLE
ID
|
From
(m)
|
To
(m)
|
Length
(m)1
|
Ni
(%)
|
Cu
(%)
|
Co
(%)
|
Pt
(g/t)
|
Pd
(g/t)
|
Au
(g/t)
|
Ag
(g/t)
|
Estimated
True
Width
%
|
|
WG-23-034
|
59.00
|
90.00
|
31.00
|
0.27
|
0.19
|
0.01
|
0.04
|
0.01
|
0.01
|
1.26
|
50
|
|
including
|
96.00
|
97.65
|
1.65
|
0.67
|
0.34
|
0.02
|
0.05
|
0.03
|
0.03
|
2.29
|
50
|
|
WG-23-035
|
43.00
|
51.00
|
8.00
|
0.26
|
0.21
|
0.01
|
0.04
|
0.02
|
0.02
|
1.25
|
80
|
|
WG-23-036
|
97.00
|
102.00
|
5.00
|
0.39
|
0.23
|
0.01
|
0.05
|
0.02
|
0.01
|
1.54
|
45
|
|
WG-23-037
|
147.00
|
188.65
|
41.65
|
0.50
|
0.34
|
0.02
|
0.08
|
0.02
|
0.03
|
1.64
|
50
|
|
including
|
174.00
|
188.65
|
14.65
|
0.81
|
0.51
|
0.02
|
0.14
|
0.04
|
0.05
|
2.61
|
50
|
|
including
|
174.00
|
179.00
|
5.00
|
1.21
|
0.69
|
0.04
|
0.14
|
0.04
|
0.05
|
3.32
|
50
|
|
WG-23-038
|
130.00
|
140.00
|
10.00
|
0.43
|
0.25
|
0.01
|
0.06
|
0.02
|
0.21
|
1.31
|
75
|
|
WG-23-039
|
191.50
|
241.00
|
49.50
|
0.36
|
0.28
|
0.01
|
0.05
|
0.02
|
0.02
|
1.49
|
40
|
|
including
|
224.00
|
241.00
|
17.00
|
0.43
|
0.49
|
0.01
|
0.08
|
0.03
|
0.04
|
2.58
|
40
|
|
WG-23-040
|
169.00
|
209.00
|
40.00
|
0.46
|
0.32
|
0.01
|
0.07
|
0.02
|
0.03
|
1.90
|
60
|
|
WG-23-041
|
237.00
|
276.00
|
39.00
|
0.43
|
0.36
|
0.01
|
0.17
|
0.03
|
0.06
|
2.04
|
55
|
|
including
|
243.00
|
250.00
|
7.00
|
0.60
|
0.49
|
0.02
|
0.10
|
0.03
|
0.04
|
2.13
|
55
|
|
including
|
262.82
|
275.00
|
12.20
|
0.60
|
0.54
|
0.02
|
0.36
|
0.05
|
0.11
|
3.46
|
55
|
|
WG-23-043
|
212.00
|
280.00
|
68.00
|
0.46
|
0.36
|
0.01
|
0.09
|
0.02
|
0.03
|
1.90
|
60
|
|
including
|
246.00
|
280.00
|
34.00
|
0.64
|
0.50
|
0.02
|
0.12
|
0.03
|
0.04
|
2.64
|
60
|
|
including
|
266.00
|
275.00
|
9.00
|
0.94
|
0.68
|
0.02
|
0.19
|
0.05
|
0.06
|
3.83
|
60
|
|
including
|
277.50
|
280.00
|
2.50
|
0.96
|
1.02
|
0.02
|
0.05
|
0.04
|
0.04
|
4.58
|
60
|
|
and
|
304.10
|
304.60
|
0.50
|
6.09
|
0.07
|
0.12
|
0.81
|
0.30
|
0.03
|
2.50
|
60
|
|
WG-23-044
|
362.35
|
375.40
|
13.05
|
0.74
|
0.81
|
0.02
|
0.22
|
0.05
|
0.10
|
4.84
|
45
|
|
including
|
369.25
|
375.40
|
6.15
|
0.96
|
1.33
|
0.03
|
0.26
|
0.08
|
0.18
|
8.04
|
45
|
|
WG-23-045
|
286.00
|
296.00
|
10.00
|
0.33
|
0.24
|
0.01
|
0.12
|
0.02
|
0.03
|
1.33
|
60
|
|
and
|
302.05
|
304.00
|
1.95
|
0.54
|
0.75
|
0.02
|
0.21
|
0.05
|
0.11
|
4.93
|
60
|
|
and
|
307.55
|
308.55
|
1.00
|
0.81
|
1.12
|
0.02
|
0.31
|
0.09
|
0.37
|
8.50
|
60
|
Notes:
1. Length refers to downhole length. Estimated
True Width is expressed as a percentage of downhole length.
Previously Reported Results
Table 2: Previously reported assay results from the
Phase 1 drill program on the West Graham Project.
|
Hole
ID
|
From
(m)
|
To
(m)
|
Length
(m)1
|
Ni
(%)
|
Cu
(%)
|
Co
(%)
|
Pt
(g/t)
|
Pd
(g/t)
|
Au
(g/t)
|
Ag
(g/t)
|
Estimated
True
Width
%
|
|
WG-23-019
|
64.00
|
93.00
|
29.00
|
0.39
|
0.25
|
0.01
|
0.04
|
0.02
|
0.02
|
1.36
|
70
|
|
WG-23-020
|
47.00
|
91.00
|
44.00
|
0.53
|
0.27
|
0.02
|
0.05
|
0.02
|
0.02
|
1.41
|
100
|
|
including
|
75.00
|
83.00
|
7.00
|
0.75
|
0.39
|
0.03
|
0.06
|
0.02
|
0.02
|
1.86
|
100
|
|
including
|
87.00
|
91.00
|
4.00
|
1.03
|
0.62
|
0.04
|
0.07
|
0.05
|
0.03
|
2.85
|
100
|
|
WG-23-021
|
41.00
|
72.00
|
31.00
|
0.46
|
0.29
|
0.02
|
0.06
|
0.02
|
0.02
|
1.50
|
90
|
|
including
|
42.00
|
46.00
|
4.00
|
0.63
|
0.46
|
0.02
|
0.10
|
0.03
|
0.04
|
2.40
|
90
|
|
including
|
58.00
|
63.00
|
5.00
|
0.66
|
0.30
|
0.02
|
0.04
|
0.02
|
0.01
|
1.50
|
90
|
|
WG-23-022
|
61.00
|
81.00
|
20.00
|
0.51
|
0.26
|
0.02
|
0.03
|
0.01
|
0.01
|
1.12
|
100
|
|
including
|
76.00
|
80.00
|
4.00
|
0.85
|
0.46
|
0.03
|
0.05
|
0.02
|
0.02
|
1.80
|
100
|
|
WG-23-023
|
45.00
|
83.00
|
38.00
|
0.47
|
0.28
|
0.02
|
0.04
|
0.02
|
0.02
|
1.45
|
90
|
|
including
|
71.00
|
82.00
|
11.00
|
0.71
|
0.41
|
0.02
|
0.07
|
0.02
|
0.04
|
2.09
|
90
|
|
WG-23-024
|
29.00
|
48.00
|
19.00
|
0.46
|
0.25
|
0.02
|
0.04
|
0.01
|
0.02
|
1.21
|
100
|
|
and
|
56.00
|
61.00
|
5.00
|
0.93
|
0.50
|
0.03
|
0.06
|
0.02
|
0.02
|
4.18
|
100
|
|
WG-23-025
|
20.00
|
67.00
|
47.00
|
0.56
|
0.30
|
0.02
|
0.05
|
0.02
|
0.02
|
1.85
|
90
|
|
including
|
42.00
|
65.00
|
23.00
|
0.72
|
0.42
|
0.02
|
0.08
|
0.03
|
0.03
|
2.73
|
90
|
|
WG-23-026
|
106.00
|
186.90
|
80.90
|
0.49
|
0.25
|
0.02
|
0.05
|
0.02
|
0.02
|
1.29
|
35
|
|
including
|
167.00
|
186.90
|
19.90
|
1.19
|
0.37
|
0.04
|
0.09
|
0.02
|
0.02
|
1.29
|
35
|
|
including
|
170.00
|
177.90
|
7.90
|
2.48
|
0.64
|
0.08
|
0.15
|
0.04
|
0.02
|
1.82
|
35
|
|
WG-23-027
|
68.00
|
120.50
|
52.50
|
0.43
|
0.27
|
0.01
|
0.05
|
0.02
|
0.02
|
1.49
|
85
|
|
including
|
96.65
|
120.50
|
23.85
|
0.57
|
0.33
|
0.02
|
0.06
|
0.02
|
0.03
|
1.79
|
85
|
|
including
|
111.00
|
120.50
|
9.50
|
0.83
|
0.37
|
0.02
|
0.09
|
0.03
|
0.03
|
2.16
|
85
|
|
WG-23-028
|
79.00
|
275.85
|
196.85
|
0.32
|
0.19
|
0.01
|
0.04
|
0.01
|
0.02
|
1.07
|
30
|
|
including
|
89.00
|
110.00
|
21.00
|
0.72
|
0.18
|
0.03
|
0.03
|
0.01
|
0.01
|
0.75
|
30
|
|
including
|
93.60
|
95.00
|
1.40
|
3.73
|
0.27
|
0.17
|
0.06
|
0.07
|
0.01
|
1.26
|
30
|
|
WG-23-029
|
84.00
|
107.00
|
23.00
|
0.37
|
0.25
|
0.01
|
0.03
|
0.02
|
0.02
|
1.39
|
50
|
|
WG-23-030
|
20.00
|
52.00
|
32.00
|
0.60
|
0.36
|
0.02
|
0.07
|
0.02
|
0.03
|
2.02
|
45
|
|
including
|
39.00
|
46.00
|
7.00
|
0.98
|
0.54
|
0.03
|
0.15
|
0.38
|
0.04
|
3.00
|
45
|
|
WG-23-031
|
3.00
|
9.65
|
6.65
|
0.37
|
0.22
|
0.01
|
0.04
|
0.01
|
0.01
|
1.08
|
95
|
|
WG-23-032
|
34.50
|
42.50
|
8.00
|
0.49
|
0.38
|
0.02
|
0.05
|
0.02
|
0.03
|
2.00
|
85
|
|
WG-23-033
|
38.00
|
52.00
|
14.00
|
0.35
|
0.24
|
0.01
|
0.04
|
0.02
|
0.02
|
1.29
|
80
|
|
WG-23-042
|
256.00
|
306.00
|
50.00
|
1.06
|
0.34
|
0.03
|
0.15
|
0.04
|
0.04
|
1.71
|
75
|
|
including
|
286.00
|
306.00
|
20.00
|
1.71
|
0.46
|
0.05
|
0.17
|
0.06
|
0.06
|
2.61
|
75
|
|
including
|
286.90
|
291.70
|
4.80
|
3.15
|
0.21
|
0.09
|
0.15
|
0.11
|
0.02
|
0.95
|
75
|
|
and
|
331.00
|
331.40
|
0.40
|
6.23
|
0.30
|
0.14
|
0.10
|
0.12
|
0.03
|
2.60
|
75
|
|
and
|
336.90
|
337.20
|
0.30
|
7.07
|
0.09
|
0.15
|
0.04
|
0.07
|
0.01
|
2.50
|
75
|
Notes:
1. Length refers to downhole length. Estimated
True Width is expressed as a percentage of downhole length.
West Graham Project
On January 23, 2023, SPC Nickel
announced the signing of an Agreement with Vale Canada ("Vale")
granting SPC Nickel the right to earn an 100% interest in Vale's
Crean Hill 3 Property that is located adjacent to SPC Nickel's West
Graham Property (see Figure 2 for property location and SPC
Nickel's January 23, 2023 press
release for full details of the Agreement).
- As an advanced project, the combination of the West Graham and
Crean Hill 3 assets is a transformational opportunity for SPC
Nickel. The historical mineral resources on these properties form
one contiguous near-surface deposit and consists of the
following:
-
- Crean Hill 3 hosts a historic mineral estimate of
16.78Mt @ 0.43% Ni and 0.30% Cu1.
- West Graham hosts a historic indicated mineral resource
of 8.55Mt @ 0.45% Ni, 0.31% Cu along with an inferred
mineral resource of 2.0Mt @ 0.38% Ni, 0.30%
Cu2.
SPC Nickel considers the West Graham and Crean Hill 3 resource
estimates to be historic mineral estimates for purposes of NI
43-101. Neither the Company nor a qualified person on behalf of SPC
Nickel have done sufficient work to classify the historical
estimates as current mineral resources and SPC Nickel is not
treating such historical estimates as current mineral
resources. SPC Nickel considers the historic mineral
estimates to be relevant to an understanding of the Project but has
not done any work to validate the estimates.
Reference
- Van Wiechen, A.G (1990):
December 31, 1989 Mineral Resource
Inventory table in: The Exploration Potential for Sulphide
Mineralization in the Crean Hill – Ellen – Crean Hill No.3
Environment, Internal Inco Report, December
13, 1990.
- Routledge, Richard and Churchill, Bruce (2009): Technical Report on
the West Graham Property Conwest Zone Resource Estimate, Graham
Township, Ontario, Canada prepared
for First Nickel Inc., January 15,
2009. Scott Wilson Roscoe Postle Associates .
Quality Assurance, Quality Control and Qualified
Persons
The technical elements of this news release have been approved
by Mr. Grant Mourre, P.Geo. (PGO),
CEO and President of SPC Nickel Corp. and a Qualified Person under
National Instrument 43-101.
SPC Nickel follows rigorous sampling and analytical protocols
that meet or exceed industry standards. Core samples are stored in
a secured area until transport in batches to the ALS facility in
Sudbury, Ontario, Canada. Sample
batches include certified reference materials, blank, and duplicate
samples that are then processed under the control of ALS. All
samples were analyzed in Vancouver
by ALS Chemex. Platinum, palladium, and gold values were determined
together using standard lead oxide collection fire assay and
ICP-AES finish. Base metal values were determined using sodium
peroxide fusion and ICP-AES finish. Silver values were determined
using an aqua regia digestion and an AAS finish. A Certified
Reference Material (CRM) standard, blank or duplicate is inserted
on every 10th sample in the following order: CRM, blank, CRM,
duplicate. The cycle repeats every 40 samples, thus ensuring that
10% of samples submitted are control samples.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
About SPC Nickel Corp.
SPC Nickel Corp. is a Canadian public corporation focused on
exploring for Ni-Cu-PGMs within the world class Sudbury Mining
Camp. SPC Nickel is currently exploring its key 100% owned
exploration project Lockerby East located in the heart of the
historic Sudbury Mining Camp that includes the West Graham Resource
and the Crean Hill 3 property under option from Vale. SPC Nickel
also holds three additional projects across Canada including the large camp-scale Muskox
Project (located in Nunavut), the
past producing Aer-Kidd Project (located in the Sudbury Mining
Camp) and the Janes Project (located 50 km northwest of
Sudbury). The corporate focus is
on Sudbury, and SPC Nickel
continues to look for new opportunities to add shareholder value.
Additional information regarding SPC Nickel and its projects can be
found at www.spcnickel.com.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the
information in this news release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as
"plans", "proposes", "estimates", "intends", "expects", "believes",
"may", "will" and include without limitation, statements regarding
estimated capital and operating costs, expected production
timeline, benefits of updated development plans, foreign exchange
assumptions and regulatory approvals. There can be no assurance
that such statements will prove to be accurate; actual results and
future events could differ materially from such statements. Factors
that could cause actual results to differ materially include, among
others, metal prices, competition, risks inherent in the mining
industry, and regulatory risks. Most of these factors are outside
the control of SPC Nickel. Investors are cautioned not to put undue
reliance on forward-looking information. Except as otherwise
required by applicable securities statutes or regulation, SPC
Nickel expressly disclaims any intent or obligation to update
publicly forward-looking information, whether as a result of new
information, future events or otherwise.
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SOURCE SPC Nickel Corp.